A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.
Read more about Flat Tax: Requirements For A Fully Defined Schema, Recent and Current Proposals
Famous quotes containing the words flat and/or tax:
“If the juggler is tired now, if the broom stands
In the dust again, if the table starts to drop
Through the daily dark again, and though the plate
Lies flat on the table top,
For him we batter our hands
Who has won for once over the world’s weight.”
—Richard Wilbur (b. 1921)
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)